Uni 24-10-2012 – reorganization of selling and buying foreign currency

Governor of the State Bank requires that credit institutions licensed to conduct foreign exchange transactions must follow current regulations and legal related documents about foreign exchange transactions when conducting foreign exchange transactions between VND and USD, they are not allowed to charge through service contracts and other payment forms such as commissions, cash management fees ... for the purposes that the actual foreign currency exchange rates exceed the ceiling rate prescribed.

So, costs of such above transactions incurred such as USD buying-consulting fees, cash management fees, money counts or any other forms will not be included in deductible expense when determining CIT.